- Mar 22, 2003
- 28,999
- 17,669
Excellent news - love ours too
Home Buying & Real Estate Thread
- Thread in 'General' Thread starter Started by TYE_The Time Traveler,
- Start date
Excellent news - love ours too
mplsdunk
Supporter
- May 25, 2004
- 30,376
- 41,000
22 dollars to my name.
- Mar 22, 2003
- 28,999
- 17,669
Send venmo - DC will fund
sneakaprince
Supporter
- Apr 29, 2007
- 16,593
- 20,413
Still got cash 
.
.
- Mar 22, 2003
- 28,999
- 17,669
sneakaprince
Supporter
- Apr 29, 2007
- 16,593
- 20,413
Since this duplex is a personal residence I was able to find a 5% down payment program with a local bank. I took an ARM since the rates are currently lower than the fixed rates. Hoping once my remodel is done and rates settle I can refi into a 30.
Until then I'm keeping cash on hand. I need another 4 unit next year.
Until then I'm keeping cash on hand. I need another 4 unit next year.
- Apr 4, 2006
- 15,863
- 3,492
I'm just a lurker. Why?
- Mar 22, 2003
- 28,999
- 17,669
To buy - massive opportunities
sneakaprince
Supporter
- Apr 29, 2007
- 16,593
- 20,413
Housing market is looking like a prize fighter in the 10th or 11th round.
Recession is looming if not already here (we are in a recession no matter what the feds say).
Interest rates are high as **** and market slow down began a couple months ago in many markets.
We are already seeing something we haven't seen a ton of in the last 2 years with for sale prices dropping. Unless you find "the perfect house". It's not a bad idea to sit it out and see how things shake out over the next 6 months.
I personally was in an expensive lease and my mortgage might be 200 bucks more than I'm paying to rent currently so it was a no brainer at 5% down. Plus I'm trying to lock in a GREAT school district for my son. Had everything else been out of sync I probably would've just waited it out. Cash is definitely your friend in a down market.
Hope this helps my lurker friend. Don't be afraid to ask questions, this is a safe space and although we might go back and forth from time to time I truly believe most of the regulars in here only want to help others and share their experiences/ insight.
- Mar 22, 2003
- 28,999
- 17,669
Cash is king in this down market - wealth is made in a recession boys
sneakaprince
Supporter
- Apr 29, 2007
- 16,593
- 20,413
I know you on the indie side but for my workers out there don't be afraid to up those 401k contributions for a while as well.
Buy low sell high is still the name of the game.
- Jun 22, 2018
- 5,267
- 6,482
Surprised a seller took your offer serious with only 5% down
sneakaprince
Supporter
- Apr 29, 2007
- 16,593
- 20,413
We made a cash offer. Switched financing at last minute... Don't sleep we still playing to win out here.Surprised a seller took your offer serious with only 5% down
I had 30 days to close and a long list of loan officers at my disposal.
Not gonna front though this **** was stressful and it helped that I had friends with considerable cash on hand reserves.
- Jun 22, 2018
- 5,267
- 6,482
Just messing with you dude
sneakaprince
Supporter
- Apr 29, 2007
- 16,593
- 20,413
Nah I feel it. I mean I'd still tell anyone not to do what I did. This was some real bait and switch **** lol.Just messing with you dude
Luckily my realtor vouched for me and they know I had all my ducks in alignment lol. Even with that it was a pain in the ***.
- Mar 22, 2003
- 28,999
- 17,669
Bro I started off in IB/PE - I’ve seen it all
Y’all should be maxing your 401ks year in year out
sneakaprince
Supporter
- Apr 29, 2007
- 16,593
- 20,413
Lol put me on brother.
- Oct 28, 2013
- 42,773
- 178,630
- Aug 5, 2017
- 630
- 1,168
Are prices dropping? Everything seems to be staying the same here in Florida. Less people moving due to interest rates seems to have kept inventory down which has kept prices the same.
- Dec 19, 2008
- 8,806
- 2,938
Prices sellers are listing have fallen due to interest rates, but the cost to buyers has gone up due to interest rates.
- Aug 5, 2017
- 630
- 1,168
Anyone have data on this?
sneakaprince
Supporter
- Apr 29, 2007
- 16,593
- 20,413
- Jul 13, 2005
- 35,417
- 27,029
Prices at the peak of the bubble were better.
Sure my down payment might be less now, but I’m not tryna pay an extra 1.5-2k per month
Sure my down payment might be less now, but I’m not tryna pay an extra 1.5-2k per month
- Apr 5, 2012
- 4,051
- 4,980
i’m so glad we got the crib. Now just gotta pay it down over the next 5 years hope rates really drop randomly sometime over the next 5 and enjoy the benefits. Feels so good paying into an asset instead of into rent.
- Feb 5, 2013
- 39,441
- 40,997
Rates now over 7
Uff
Uff
